16th Jan 2015 11:14
LONDON (Alliance News) - Environmental Recycling Technologies PLC Friday said that in collaboration with its partner Axion Recycling Ltd, it has secured its first order for formulated recycled polymers.
In November, Environmental Recycling signed a commercial agreement with Axion under which Axion produces bespoke blended recycled plastic material for use by licensees of Environmental Recycling.
Licensees of Environmental Recycling are based in Europe, North America, the Middle East and Africa and use Environmental Recycling's technology to produce items like wet room floor formers, barge covers and anti-ballistic products.
In November, the company said its UK licensee, 2K Manufacturing Ltd, had gone into administration.
The formulated recycled polymers, such as plastics and resins, are tailored to Environmental Recycling's powder impression moulding technology and the commercial agreement signed in November "brings together Axion's in-house expertise in polymer processing and quality assurance with Environmental Recycling's patented powder impression moulding technology," said the company.
Environmental Recycling said its patented technology allows businesses to improve their environmental footprint by adding new value to mixed plastic waste streams by conversion into products, which in turn can be recycled at the end of their life.
The powder impression moulding products are branded under the Axplas brand name and are made from 100% recycled plastics, which increases the quality and reduces the process of waste by end users, said Environmental Recycling.
"We are delighted that our collaboration has generated its inaugural commercial order," said Lee Clayton, managing director of Environmental Recycling.
The company didn't give any financial details about the order.
Environmental Recycling Technologies shares were down 14.7% to 0.405 pence per share on Friday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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